4.6 C
London
Tuesday, March 9, 2021

Mark Carney joins the board of digital payment firm Stripe

News UK Mark Carney joins the board of digital payment firm Stripe

Mark Carney, former head of the UK and Canadian central banks, has joined the board of US digital payments company Stripe Inc, days after the firm was reported to be planning a primary funding round valuing it at more than $100bn (£71bn).

“Regulated in multiple jurisdictions and partnering with several dozen financial institutions around the world, Stripe will benefit from Mark Carney‘s extensive experience of global financial systems and governance,” the company said on Sunday, confirming a report by the Sunday Times newspaper.

In a statement on the company’s website, Carney recognised the very nature of commerce has changed over the past decade, saying Stripe had been at the forefront of enabling the new digital economy.

“I look forward to supporting Stripe over the coming years as they build the global infrastructure that enables the internet to become the engine for strong and inclusive economic growth,” added Carney, who stepped down as governor of the Bank of England in March.

Forbes magazine reported on Wednesday that investors were valuing Stripe at $115bn.

A senior Stripe executive told Reuters in December that the company plans to expand across Asia, including in south-east Asia, Japan, China and India.

The company offers products that allow merchants to accept digital payments from customers and a range of business banking services.

Stripe raised $600m in April and was valued then at $36bn.

Consumer-facing fintechs have recorded a boost to their businesses during the Covid-19 pandemic, as people stay at home to avoid catching the virus and increasingly manage their finances online.

Carney, had a 13-year career at Wall Street bank Goldman Sachs in its London, Tokyo, New York and Toronto offices.

The former Bank of England governor is the United Nations special envoy on climate action and finance.

Stripe was founded in 2010 by billionaire Irish brothers Patrick and John Collison, now aged 32 and 30.


Source link – bmmagazine.co.uk
Author: Business Matters

Latest news

3 cheap UK shares I’d buy before the Stocks and Shares ISA deadline

The 5 April deadline is fast approaching for this year’s ISA allowance, and I’m looking for some of the best UK shares to buy...

Travel firms ‘excluded’ from government support

Many travel businesses continue to be “excluded” from government support despite not trading for almost a year, according to an industry trade body. The Association...

Fears grow for 5,000 UK steel jobs as lender collapses

The principal financial backer of one of the UK’s largest industrial groups has fallen into administration. Specialist bank Greensill Capital was the main lender to...

Finance

3 cheap UK shares I’d buy before the Stocks and Shares ISA deadline

The 5 April deadline is fast approaching for this year’s ISA allowance, and I’m looking for some of the best UK shares to buy...

UK stock investing: 2 shares I’d buy today for passive income

One investing goal of mine is to generate more passive income. I want to be able to bring in more money from my holdings...

Here’s how I invest in FTSE stocks like Warren Buffett

Warren Buffett is one of the most successful investors in the world. To say that when he talks, people listen, is an understatement. The...

Business

Bank governor says UK economy will never return to pre-Covid pattern

The UK can see light at the end of the Covid-19 tunnel but the economy will never fully return to its pre-pandemic pattern, the...

Female freelancers have faced “disproportionate financial struggle” during the pandemic

On International Women’s Day, IPSE (the Association of Independent Professionals and the Self-Employed) has warned that female freelancers face a “disproportionate financial struggle” during...

Why gold is now very oversold

The Dow Jones saw a little selling pressure this week; down on Tuesday, Wednesday and Thursday, but up on Monday and Friday.  For the...

COVID-19 puts women’s careers on hold

COVID-19 is having a detrimental impact on women’s careers, according to new research from LinkedIn, the world’s largest professional network. The study of 20,000+ working...